Near-term oscillators reverted to buy mode. Considering the improved setup, Nifty may extend the rally towards its long-term average of 200-DMA at 10,750

- Arun Kumar, Market Strategist, Reliance Securities

06:32 PM

The 10,710 was the level where the index had made an interim top on October 17 from where the pullback rally was sold off, only to make new corrective swing low. Apart from this 200-day moving average is placed around 10,754 level. Hence, the entire 10,710-10,844 zone is looking like a massive supply zone, which the bulls need to absorb to sail smoothly

- Mazhar Mohammad, Chief Strategist, Chartviewindia.in

06:13 PM

Market has been inching up towards higher levels trying to touch the 50 Day and 200 Day Moving average coinciding at 10774 and 10767 levels. Upcoming week shall be very crucial as bulls must close Nifty above these widely tracked Moving averages. We will have to see if the current bounce back from lows of 10030 levels is a retest of Previous swing top at 10700 Levels or another opportunity for bears to gain control. Historically, in last 10 years, November closing has been negative 7 out of 10 times

- Mustafa Nadeem, CEO, Epic Research

05:40 PM

The daily Bollinger Bands have started expansion after a contraction phase. This creates room for the price action on the upside. On the weekly chart, the Nifty has posted a positive close for the third consecutive week. The index has approached its 40 week exponential moving average for a bullish crossover. The key medium term moving average is also at 10,710. Thus 10,710 is a key hurdle to watch out for. The index will be set to march towards 11,000-11,140 once the level of 10,710 gets taken out. On the other hand, the support zone shifts upward to 10,600-10,532

Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan

05:15 PM

JUST IN

Tata Sons: Any discussions with Jet Airways has been preliminary; no proposal has been made

05:13 PM

The candle formation suggests the decline is being bought into and the bulls are gaining an upper hand in the market. Now, it has to hold above 10,650 to witness an upward move towards 10,750 and then 10,800-10,850 zone, while on the downside, support exists at 10,550 level

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

04:43 PM

Albeit Nifty appears to have registered a breakout, above its 8-day old consolidation zone between 10,650–440 levels, it is not looking that convincing enough as the said breakout is on the back of negative advance decline ratio and with a 64-point narrow range, which depicted a small bullish candle on daily chart where as a Hanging Man kind of formation on weekly charts. Besides it appears to be facing selling pressure from its interim top of 10710, which was registered on 17 October, from where initial pull back rally was sold off only to make new corrective swing lows. Apart from this 200 day moving average is placed around 10754 levels. Hence, entire zone of 10710 – 10844 is looking like a massive supply zone which bulls need to absorb to sail smoothly. On the downsides if the index slips below 10630 levels then it may initially lead to the test of 10440 in the near term

Nifty as per weekly timeframe has formed a small body candle with long lower shadow. We also observe an upside breakout attempt of the key overhead weekly resistance as per the concept of change in polarity at 10,650-70 levels. The overall trend of Nifty is positive, on may expect further upmove in the coming week. Next upside levels to be watched is at 10,850 in the next couple of weeks

- Nagaraj Shetti, Technical Research Analyst, HDFC securities

04:08 PM

Market was rangebound with a positive bias amid strong rupee and inflow of foreign funds. Broadly, the second quarter earnings were tad below the expectation of 15% YoY (Nifty50) and the market has largely factored a gradual downgrade in earnings in the second half of FY19. While investors are looking for major triggers for a decisive up move above 10,700 level, stability in INR and oil prices will provide direction to the market despite election led uncertainty

These five stocks shed up to 20% in today's session

The government is looking to mobilise Rs 5,000 crore through share buybacks by January-end, according to an ETNow report that quoted agencies.

The Centre expects Coal India share buyback to take off by January-end, the report said.

Stock of Coal India was 0.70 per cent up at Rs 264.90 in the afternoon trade while the BSE Sensex surged 0.62 per cent to 35,481.

According to an earlier report, the finance ministry has shortlisted nearly a dozen central public sector enterprises (CPSEs), including Coal India, NTPC, Nalco and NMDC, for a possible buyback of shares in the ongoing financial year. The list also includes BHEL, NHPC, NBCC, SJVN, KIOCL and Hindustan Aeronautics.

Shares of Reliance Industries (RIL) Friday rose over 2 per cent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. In afternoon trade on BSE, RIL's market capitalisation was Rs 7,14,573.46 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,03,891.09 crore.

Gold and silver gave a good account of themselves on Friday, taking comfort from widespread demand for precious metals. Oil futures gained after US fuel stockpiles declined and a likely cut in OPEC output helped support prices.

12:51 PM

Hunting value? These 10 are growing margins for 4 quarters now

After the market mayhem, the smallcap and midcap segments of the market have become good hunting ground for investors.

And the September quarter earnings season, which is about to wrap up, is throwing up cues on where to look for possible value bets.

India Inc’s second quarter earnings numbers have not been very promising, and earnings downgrades this quarter have been one of the worst in years.

Yet, there are smallcap businesses, with at least Rs 250 crore in reported quarterly sales, which have managed to post growth in profit margins.

12:15 PM

Parsvnath Developers reports Q2 net loss of Rs 21 crore

Realty firm Parsvnath Developers has posted a net loss of Rs 21 crore in the second quarter of this fiscal. Its net loss stood at Rs 33 crore in the year-ago period, the company said in a statement. Total income fell marginally to Rs 23 crore during the July-September period of this fiscal year from Rs 24 crore in the corresponding period of the previous year.

11:33 AM

PE and PEG: Two sides of the same coin

11:24 AM

Shilpa Medicare gets tentative USFDA nod for multiple sclerosis drug

Shilpa Medicare Thursday said it has received tentative approval from the US health regulator for Dimethyl Fumarate delayed release capsules, used for treatment of relapsing forms of multiple sclerosis.

The company's abbreviated new drug application (ANDA) for Dimethyl Fumarate delayed release capsules in the strengths of 120 mg and 240 mg has been granted tentative approval by the United States Food and Drug Administration (USFDA), Shilpa Medicare said in a BSE filing.

Shares of Shilpa Medicare were trading 3.92 per cent up at Rs 388.65 apiece on BSE

Shares of Jet Airways flew higher early Friday, jumping 8 per cent on media reports that the debt-laden airline is close to a deal with Indian conglomerate Tata Sons.

The stock was 8.01 per cent up at Rs 346.65 at around 10.53 am while the benchmark BSE Sensex firmed up 0.57 per cent at 35,463.

According to media reports, the board of Tata Sons is in the midst of a meeting to vet a proposal to buy out the cash-strapped Jet Airways, which sent its share prices soaring over 26 per cent on Thursday.

Glenmark gets USFDA nod for multiple sclerosis medication

Glenmark Pharmaceuticals Thursday said it has received approval from the US health regulator for Teriflunomide tablets used to treat multiple sclerosis. The approved product is generic version of Sanofi-Aventis US' Aubagio.

Glenmark Pharmaceuticals, USA, has been granted final approval by the United States Food and Drug Administration (USFDA) for Teriflunomide tablets in the strengths of 7 mg and 14 mg, the company said in a BSE filing.

The company's stock was trading at Rs 658.75 apiece, down 0.86 per cent, on the BSE.

10:47 AM

Top 10 BSE gainers

Price as on 16 Nov, 2018 10:47 AM, Click on company names for their live prices.

Aviation is a tough sector with no pricing power. A long-term investor has never made money on the aviation stocks.

Poll: Elections likely to be the biggest driver for Indian markets

India's top hedge fund is exploring opportunities in state-run banks, a sector shunned by most investors till now, as valuations turn attractive and the backlog of bad loans that have riddled lenders start to dwindle.

State-run banks will also benefit if the economy continues to grow at about 7 percent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit.

09:56 AM

YES Bank plunges 4% after OP Bhatt resigns from CEO search panel

Shares of YES Bank slipped over 4 per cent in early trade on Friday after former SBI chairman OP Bhatt resigned from the panel set up by the private sector lender to find a successor to its MD and CEO Rana Kapoor.
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<br />The scrip was trading 4.54 per cent down at Rs 196.65 around 9.25 am (IST), while the BSE Sensex was up 0.38 per cent at 35,394.
<br />
<br />In a BSE filing, YES Bank said, "OP Bhatt has tendered his resignation from his duties as an external expert of the 'Search & Selection Committee' (S&SC) with immediate effect citing that there may be a potential conflict of interest."
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09:33 AM

Top 5 NSE movers

Price as on 16 Nov, 2018 09:33 AM, Click on company names for their live prices.

Pre-open session: Sensex climbs 200 pts; Nifty above 10,650

Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange traded 43.50 points, or 0.41 per cent, higher at 10,665.50, this morning indicating a positive start for the Nifty50.

08:59 AM

Tech view: Nifty faces resistance at 10,650

A breakout above the 10,650 level can initiate an uptrend, taking the index to 10,750-10,840 levels, said Aditya Agarwala, Technical Analyst, YES Securities. Any failure to cross the said resistance will drag the 50-pack lower to 10,440 level, which has been acting as the lower end of the range so far, he said.

08:59 AM

Asian stocks edge higher

Asian share markets gained on hopes for a thaw in Sino-US trade relations gave Wall Street a fillip, though there were duelling reports on the prospects for an actual agreement, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan was ahead 0.26 per cent in early trade, while Japan's Nikkei index added 0.2 per cent.

08:58 AM

US stocks rise on trade optimism

US stocks rose on Thursday on optimism the United States and China could resolve their trade dispute, after a news report said Washington would pause further tariffs on Chinese imports, Reuters reported. The Dow Jones Industrial Average index rose 208.77 points, or 0.83 percent, to 25,289.27 and the Nasdaq Composite index added 122.64 points, or 1.72 percent, to 7,259.03.

08:58 AM

Oil prices gain on fears of supply cut

Oil prices were stable on Friday, supported by expected supply cuts from OPEC but held back by record US production. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.5/ per barrel, up 12 cents from their last settlement. Brent crude oil futures were up 7 cents at $66.69 a barrel.

08:58 AM

India’s trade deficit widens

India’s exports rose sharply in October as a weaker rupee provided a competitive edge, but equally strong growth in imports widened the trade deficit. Exports grew 17.9 per cent to $26.98 billion last month from $22.89 billion a year earlier, data released by the commerce department showed. Imports climbed 17.6 per cent to $44.11billion, yielding a trade deficit of $17.13 billion.

08:58 AM

$2 billion share sale in the pipeline

The government is considering a plan to sell shares worth $2 billion in Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and Oil India Ltd (OIL) to help meet this year’s divestment target, according to people familiar with the matter. This would be on top of the proceeds generated from a likely Rs 10,000-crore share buyback by these companies.

08:58 AM

HDFC to raise $1 bn from dollar bond sales

India’s largest mortgage lender Housing Development Finance Corporation (HDFC) is set to raise up to $1 billion through its maiden dollar bond sales which is likely to hit the market in January, three people with the direct knowledge of the matter, told ET.

The company plans to expand loans in the affordable or low-cost housing segment, a key focus area for the government, as it seeks to tap business potential on a new front.